ALTA President: ‘We’ve Built It, Now We Must Implement’

October 15, 2013

Taking the stage to the U2 song “It’s a Beautiful Day,” new ALTA President Rob Chapman provided an overview of his vision for the Association in the coming year during the closing general session at ALTA’s 2013 Annual Convention.

Now that ALTA’s “Title Insurance and Settlement Company Best Practices” have been developed, Chapman discussed why it’s crucial to explain the vital role the industry plays in the homebuying process, as well as the many policies and procedures the industry follows to safeguard and eliminate risk during and after the transaction.

“I am proud to stand in front of you today as the newly installed president of the American Land Title Association to carry on the work of the great professionals who came before me,” said Chapman, who is the chief information officer for Old Republic National Title Insurance Co. “Many past ALTA presidents have stood in front of you, like me today, to discuss the issues facing our industry and lead us to ensure the success of this great industry of ours.”

While building the Best Practices was an important process, proper implementation will be crucial for the industry’s future. Chapman highlighted several past ALTA presidents including Dick Cecchettini, Cara Detring, Chuck Kovaleski, Mark Bilbrey, Rande Yeager, Greg Kosin, Mike Pryor and Anne Anastasi for promoting the industry’s value. Chapman then recognized ALTA past presidents Chris Abbinante and Frank Pellegrini for leading the charge in developing the Best Practices.

“Frank and Chris are largely the ‘godfathers’ of the Best Practices and for that we are thankful,” Chapman said. “There is no tool offered by ALTA that better highlights the integrity and honor of our profession than the Best Practices. Being an IT guy, I appreciate the back office piece of every title operation. For some of our members, the IT department is one individual. For others, the department is made up of many people.”

Regardless of the size of the company, the Best Practices were designed to support the back office of the industry. “I know this just about better than anyone. It’s what I worry about every single day in my own operation. The back-office functions are exactly the goal of the best practices,” Chapman said.

He added that Yeager may have said it best during his presidency that the “title insurance industry will flourish on its ability to adapt to customer needs in a changing marketplace.”

In this era of increased regulation, new consumer demands and economic uncertainty, Chapman said the industry cannot afford to muddle of its message. The time spent in front of potential consumers, departments of insurance and policymakers must be focused and simple. He encouraged members to take advantage of all the tools provided to members

“We have built an industry that we are proud of,” Chapman said. “We have built an association with tools to help all of our members succeed. We have built all of these incredible things and I am proud to stand with you over the next year as we implement all we have built.”